National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

National Bank of Canada OTCMKTS: NTIOF has filed 13-F forms with the SEC as an investor. National Bank of Canada is itself a publicly traded company. National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U. For more information on National Bank of Canada stock, visit the National Bank of Canada stock profile here.

Investment Activity

National Bank of Canada has $111.52 billion in total holdings as of June 30, 2025.
National Bank of Canada owns shares of 2,933 different stocks, but just 154 companies or ETFs make up 80% of its holdings.
Approximately 19.24% of the portfolio was purchased this quarter.
About 14.27% of the portfolio was sold this quarter.
This quarter, National Bank of Canada has purchased 2,868 new stocks and bought additional shares in 1,051 stocks.
National Bank of Canada sold shares of 1,058 stocks and completely divested from 339 stocks this quarter.

Largest Holdings

NVIDIA: $6,956,486,568
Apple: $4,567,830,712
Microsoft: $4,406,026,415
Alphabet: $3,090,390,387
Royal Bank Of Canada: $2,611,057,520

Largest New Holdings this Quarter

G0593M107 - AstraZeneca: $417,565,965 Holding
92189F959 - VANECK ETF TRUST: $173,858,265 Holding
76155X100 - Revolution Medicines: $170,090,250 Holding
097023955 - BOEING CO: $154,825,437 Holding
81762P952 - SERVICENOW INC: $148,461,000 Holding

Largest Purchases this Quarter

NVIDIA: 12,980,140 shares (about $2.26B)
NVIDIA CORPORATION: 81,208 shares (about $1.42B)
Apple: 3,707,421 shares (about $940.88M)
Microsoft: 1,989,133 shares (about $736.33M)
ADVANCED MICRO DEVICES INC: 29,471 shares (about $599.53M)

Largest Sales this Quarter

Meta Platforms: 1,198,504 shares (about $685.70M)
Broadcom: 1,405,958 shares (about $435.16M)
Canadian Natural Resources: 6,562,364 shares (about $316.83M)
STATE STR SPDR S&P 500 ETF T: 4,000 shares (about $260.14M)
NETFLIX INC.: 26,386 shares (about $253.70M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
NVDA NVIDIA	$6,956,486,568	$2,263,734,036 â–²	48.2%	39,888,153	6.2%	Computer and Technology
AAPL Apple	$4,567,830,712	$940,884,739 â–²	25.9%	17,998,880	4.1%	Computer and Technology
MSFT Microsoft	$4,406,026,415	$736,325,880 â–²	20.1%	11,902,573	4.0%	Computer and Technology
GOOGL Alphabet	$3,090,390,387	$286,442,078 â–²	10.2%	10,746,678	2.8%	Computer and Technology
RY Royal Bank Of Canada	$2,611,057,520	$70,310,532 â–¼	-2.6%	16,182,381	2.3%	Finance
TD Toronto Dominion Bank	$2,558,558,239	$167,171,828 â–²	7.0%	27,422,403	2.3%	Finance
AMZN Amazon.com	$2,440,674,514	$193,186,680 â–²	8.6%	11,718,509	2.2%	Retail/Wholesale
GOOG Alphabet	$2,191,291,775	$384,560,582 â–²	21.3%	7,639,013	2.0%	Computer and Technology
NVIDIA CORPORATION	$2,097,912,637	$1,416,257,581 â–²	207.8%	120,294	1.9%	PUT
TSLA Tesla	$1,985,671,955	$8,944,060 â–²	0.5%	5,341,342	1.8%	Auto/Tires/Trucks
AVGO Broadcom	$1,859,181,767	$435,156,847 â–¼	-19.0%	6,006,872	1.7%	Computer and Technology
META Meta Platforms	$1,704,110,359	$685,704,922 â–¼	-28.7%	2,978,516	1.5%	Computer and Technology
SHOPIFY INC	$1,517,110,731	$401,932,476 â–²	36.0%	12,811,918	1.4%	CL A SUB VTG SHS
MU Micron Technology	$1,460,550,288	$304,545,905 â–²	26.3%	4,323,263	1.3%	Computer and Technology
BMO Bank Of Montreal	$1,453,379,792	$32,838,315 â–¼	-2.2%	10,760,298	1.3%	Finance
CM Canadian Imperial Bank of Commerce	$1,225,929,959	$60,365,214 â–¼	-4.7%	12,952,062	1.1%	Finance
MICROSOFT CORP	$1,171,328,931	$576,872,928 â–²	97.0%	31,643	1.1%	PUT
BNS Bank of Nova Scotia	$1,136,350,598	$97,921,384 â–¼	-7.9%	16,409,996	1.0%	Finance
JPM JPMorgan Chase & Co.	$1,087,416,545	$269,240,827 â–²	32.9%	3,696,591	1.0%	Finance
ENB Enbridge	$1,054,009,688	$32,181,654 â–¼	-3.0%	19,496,834	0.9%	Energy
UNH UnitedHealth Group	$1,035,411,250	$401,695,480 â–²	63.4%	3,826,523	0.9%	Medical
BN Brookfield	$979,356,118	$47,763,188 â–²	5.1%	24,212,041	0.9%	Finance
AMD Advanced Micro Devices	$918,963,935	$538,144,788 â–²	141.3%	4,517,318	0.8%	Computer and Technology
MFC Manulife Financial	$899,650,395	$146,071,035 â–²	19.4%	26,160,388	0.8%	Finance
TESLA INC	$868,036,250	$63,197,500 â–¼	-6.8%	23,350	0.8%	PUT
WALMART INC	$790,230,530	$235,726,810 â–²	42.5%	6,358,346	0.7%	COM
UNITEDHEALTH GROUP INC	$769,179,134	$438,734,626 â–²	132.8%	28,426	0.7%	PUT
ALPHABET INC	$765,182,376	$157,883,836 â–¼	-17.1%	26,646	0.7%	PUT
AEM Agnico Eagle Mines	$739,430,810	$25,250,513 â–¼	-3.3%	3,664,691	0.7%	Basic Materials
PALANTIR TECHNOLOGIES INC	$690,344,935	$84,977,987 â–²	14.0%	4,719,275	0.6%	CL A
CNI Canadian National Railway	$685,842,480	$2,574,040 â–¼	-0.4%	6,685,129	0.6%	Transportation
SU Suncor Energy	$677,008,069	$81,039,588 â–¼	-10.7%	10,249,189	0.6%	Energy
COST Costco Wholesale	$659,706,399	$122,902,800 â–¼	-15.7%	662,080	0.6%	Retail/Wholesale
HON Honeywell International	$649,105,829	$10,997,105 â–²	1.7%	2,871,751	0.6%	Multi-Sector Conglomerates
AMAZON COM INC	$644,991,363	$38,925,663 â–²	6.4%	30,969	0.6%	PUT
TRP TC Energy	$641,020,764	$52,768,662 â–¼	-7.6%	10,335,091	0.6%	Energy
ADVANCED MICRO DEVICES INC	$630,043,053	$599,528,553 â–²	1,964.7%	30,971	0.6%	PUT
TSM Taiwan Semiconductor Manufacturing	$591,099,341	$342,211,032 â–²	137.5%	1,749,057	0.5%	Computer and Technology
CNQ Canadian Natural Resources	$579,576,251	$316,832,467 â–¼	-35.3%	12,004,421	0.5%	Energy
CSCO Cisco Systems	$572,786,942	$56,536,052 â–²	11.0%	7,382,173	0.5%	Computer and Technology
LLY Eli Lilly and Company	$570,484,105	$4,157,819 â–¼	-0.7%	620,178	0.5%	Medical
BRK.B Berkshire Hathaway	$568,523,828	$20,509,026 â–²	3.7%	1,186,389	0.5%	Finance
CP Canadian Pacific Kansas City	$554,907,764	$1,445,459 â–¼	-0.3%	7,080,217	0.5%	Transportation
BCE BCE	$535,376,934	$7,494,548 â–¼	-1.4%	21,250,639	0.5%	Utilities
LAM RESEARCH CORP	$528,692,124	$63,742,198 â–²	13.7%	2,474,441	0.5%	COM NEW
NFLX Netflix	$511,288,938	$46,163,988 â–¼	-8.3%	5,317,300	0.5%	Consumer Discretionary
BAC Bank of America	$489,926,980	$211,028,260 â–²	75.7%	10,049,780	0.4%	Finance
ORCL Oracle	$434,016,196	$82,809,064 â–¼	-16.0%	2,950,290	0.4%	Computer and Technology
JNJ Johnson & Johnson	$423,125,979	$32,320,039 â–¼	-7.1%	1,731,044	0.4%	Medical
RCI Rogers Communication	$419,802,782	$44,042,652 â–²	11.7%	10,957,289	0.4%	Utilities
AZNCF AstraZeneca	$417,565,965	$417,565,965 â–²	New Holding	2,137,511	0.4%	Medical
SLF Sun Life Financial	$417,148,093	$22,538,725 â–²	5.7%	6,679,041	0.4%	Finance
WPM Wheaton Precious Metals	$415,604,203	$16,409,699 â–¼	-3.8%	3,175,087	0.4%	Basic Materials
INTC Intel	$406,757,730	$16,417,359 â–²	4.2%	9,217,072	0.4%	Computer and Technology
AMAT Applied Materials	$399,350,362	$62,813,886 â–²	18.7%	1,168,471	0.4%	Computer and Technology
MA Mastercard	$395,085,240	$1,582,927 â–²	0.4%	790,706	0.4%	Business Services
HD Home Depot	$393,577,430	$86,415,844 â–²	28.1%	1,196,798	0.4%	Retail/Wholesale
FTS Fortis	$377,596,604	$30,992,580 â–¼	-7.6%	6,783,283	0.3%	Utilities
WBD Warner Bros. Discovery	$365,206,954	$190,257,347 â–²	108.7%	13,299,527	0.3%	Consumer Discretionary
CCJ Cameco	$346,988,993	$16,297,664 â–²	4.9%	3,222,244	0.3%	Basic Materials
PG Procter & Gamble	$344,752,854	$48,939,152 â–²	16.5%	2,386,923	0.3%	Consumer Staples
NTR Nutrien	$341,938,922	$46,386,706 â–¼	-11.9%	4,559,271	0.3%	Basic Materials
ADBE Adobe	$341,453,156	$235,606,786 â–²	222.6%	1,404,690	0.3%	Computer and Technology
PEP PepsiCo	$332,746,564	$128,133,165 â–¼	-27.8%	2,142,689	0.3%	Consumer Staples
FNV Franco-Nevada	$331,414,894	$13,208,276 â–²	4.2%	1,353,107	0.3%	Basic Materials
SHOPIFY INC	$325,077,948	$323,891,749 â–²	27,305.0%	27,405	0.3%	PUT
WCN Waste Connections	$323,727,335	$13,960,290 â–¼	-4.1%	1,998,395	0.3%	Business Services
TU TELUS	$307,160,521	$13,264,297 â–²	4.5%	23,930,150	0.3%	Utilities
V Visa	$298,040,698	$16,600,174 â–²	5.9%	986,253	0.3%	Business Services
PALANTIR TECHNOLOGIES INC	$280,140,828	$75,787,668 â–²	37.1%	19,151	0.3%	PUT
MICRON TECHNOLOGY INC	$273,954,456	$231,724,456 â–²	548.7%	8,109	0.2%	PUT
KGC Kinross Gold	$272,080,410	$153,930 â–²	0.1%	8,920,887	0.2%	Basic Materials
UBER Uber Technologies	$270,282,449	$124,298,415 â–²	85.1%	3,757,685	0.2%	Computer and Technology
BA Boeing	$269,806,261	$156,525,782 â–²	138.2%	1,355,604	0.2%	Aerospace
QSR Restaurant Brands International	$259,843,425	$20,417,632 â–¼	-7.3%	3,553,001	0.2%	Retail/Wholesale
SPY SPDR S&P 500 ETF Trust	$257,255,093	$29,486,578 â–¼	-10.3%	395,472	0.2%	Finance
PBA Pembina Pipeline	$256,248,201	$26,585,915 â–²	11.6%	5,754,268	0.2%	Energy
QQQ Invesco QQQ	$250,299,653	$33,934,172 â–¼	-11.9%	433,674	0.2%	Finance
XOM ExxonMobil	$249,792,625	$160,379,989 â–¼	-39.1%	1,472,420	0.2%	Energy
PM Philip Morris International	$248,261,932	$75,852,499 â–¼	-23.4%	1,501,531	0.2%	Consumer Staples
NOW ServiceNow	$247,394,464	$163,232,784 â–²	194.0%	2,366,262	0.2%	Computer and Technology
KO CocaCola	$246,374,920	$31,593,102 â–²	14.7%	3,239,438	0.2%	Consumer Staples
GDX VanEck Gold Miners ETF	$242,615,633	$183,258,910 â–²	308.7%	2,643,749	0.2%	ETF
ADOBE INC	$241,864,600	$203,871,196 â–²	536.6%	9,950	0.2%	PUT
EXXON MOBIL CORP	$240,051,934	$155,459,458 â–²	183.8%	14,149	0.2%	CALL
GS The Goldman Sachs Group	$236,992,281	$48,023,451 â–²	25.4%	280,146	0.2%	Finance
MRK Merck & Co., Inc.	$235,948,670	$5,517,406 â–¼	-2.3%	1,961,390	0.2%	Medical
CVE Cenovus Energy	$233,168,799	$109,128,365 â–¼	-31.9%	8,804,505	0.2%	Energy
RTX RTX	$232,092,805	$25,365,673 â–²	12.3%	1,203,154	0.2%	Aerospace
META PLATFORMS INC	$227,993,805	$242,754,759 â–¼	-51.6%	3,985	0.2%	PUT
GILD Gilead Sciences	$225,017,710	$39,799,494 â–¼	-15.0%	1,614,500	0.2%	Medical
MCD McDonald's	$224,743,273	$80,535,125 â–¼	-26.4%	723,154	0.2%	Retail/Wholesale
BKNG Booking	$216,880,547	$20,946,608 â–¼	-8.8%	51,511	0.2%	Retail/Wholesale
CELESTICA INC	$215,081,831	$22,974,902 â–¼	-9.7%	765,395	0.2%	COM
CRWD CrowdStrike	$214,545,893	$71,890,490 â–²	50.4%	549,528	0.2%	Computer and Technology
DLTR Dollar Tree	$210,282,933	$104,676,438 â–²	99.1%	1,920,239	0.2%	Retail/Wholesale
KLAC KLA	$207,986,405	$15,767,790 â–¼	-7.0%	141,258	0.2%	Computer and Technology
MS Morgan Stanley	$205,244,539	$75,042,900 â–²	57.6%	1,247,157	0.2%	Finance
GIB CGI Group	$204,577,892	$4,102,325 â–¼	-2.0%	2,816,139	0.2%	Computer and Technology
ABBV AbbVie	$201,641,030	$198,769,535 â–¼	-49.6%	927,136	0.2%	Medical

Showing largest 100 holdings. View all holdings.

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National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

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Advanced Stock Screeners and Research Tools

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National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofNational Bank of Canada

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools